Ireland Current Accounts Market Report
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Providing the most comprehensive and up-to-date information and analysis of the Current Accounts market, and the behaviours, preferences and habits of the consumer.
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Covered in this report
This report examines the current account market in NI and RoI. It analyses the main factors determining growth within the market. It also draws on exclusive consumer data to assess levels of ownership of current accounts among Irish consumers, preferred providers of main and non-main current accounts, levels of switching activity among consumers and consumers' preferences when it comes to channels for selected banking activities.
What you need to know
With near-universal ownership, growth depends primarily on increased demand due to economic growth, job creation and population growth – growth in the current account market for Ireland is slow. A lack of eye-catching innovation and a lack of competition, in RoI in particular, have discouraged any real tendency on the part of Irish consumers to switch their current account provider.
The most dramatic change within the market in recent years has been in the way consumers interact and engage with their current account and, indeed, their current account provider. In an almost revolutionary change, online and mobile channels have taken centre stage as consumers' preferred methods of performing almost all banking activities.
Expert analysis from a specialist in the field
Written by Brian O'Connor, a leading analyst in the Consumer sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Although there appears to be a high level of inertia when it comes to how consumers manage their current accounts – for instance, switching activity is rare and infrequent – there has nonetheless been a fairly dramatic change in terms of how consumers interact with their current account. Having emerged from the periphery only around a decade or so ago, the online channel is now the main channel for most consumers, while mobile banking is emerging as the preferred channel for a range of day-to-day banking activities.
Senior Consumer Analyst
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